Important changes to loan submission

August 20th, 2018

Automatic indicative approval

Indicative decisioning was introduced in March, to give customers greater certainty in the home loan process. Indicative decisioning provides an answer for applications with SUB reference numbers – indicative approval or referred to an assessor– within four hours of submission. If indicatively approved, the application is subject to valuation and verification of the customer’s information, prior to final approval.

From 31 August, this process will be improved to provide even faster indicative answers on submitted applications, in most cases within minutes for lending with SUB reference numbers. Turnaround for applications with A reference numbers will remain at published SLAs.

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